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PPC denies press reports claiming violations of loan contracts due to arrears

Greece’s Independent Power Transmission Operator (ADMHE) on Friday issued clarifications regarding debts, in the form of penalty interest rates tack on to past arrears, owed by the Public Power Corp. (PPC), the dominant power utility in the country.

In a press release, ADMHE said the specific figure, over the 2011-2018, reaches 31.6 million euros, but has not been legally demanded.

In a later statement, ATHEX-listed PPC denied a bevy of press reports, according to which the state-run utility has received notifications from creditor banks citing “violations of loan contacts”.

PPC called the reports “completely baseless”.